Which of the Following Is True Regarding Wally Getting a Loan

question 25

Multiple Choice

Which of the following is true regarding Wally getting a loan and putting a new roof on the house?

• A) Wally should have known better, and his actions would be of no use to him in attempting to enforce the contract.
• B) The judge would consider his actions under the UCC as exceptions to the parol evidence rule.
• C) His actions would likely amount to promissory estoppel, which establishes an exception to the statute of frauds.
• D) His actions would be considered as admissions.
• E) His actions would be considered only because Wilma told the judge that she had orally agreed to the contract.

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Definitions:

Complex Fraction

A fraction where the numerator, the denominator, or both contain fractions themselves.

Simplify

The process of reducing an expression or equation to its most basic form.

Division

One of the four basic operations in arithmetic, division calculates how many times a number (dividend) can be contained within another number (divisor).

Simplify

To reduce a complex expression to its simplest form by performing all possible operations and combining like terms.